Existing models for cloud-based storage are all centralized solutions, which may or may not be as secure as users expect them to be. There is a need to have a cloud storage system that is secure, highly available, and above all decentralized. Storj aims to provide blockchain based, decentralized, and distributed storage. It is a cloud shared by the community instead of a central organization. It allows execution of storage contracts between nodes that act as autonomous agents. These agents (nodes) execute various functions such as data transfer, validation, and perform data integrity checks.
The core concept is based on Distributed Hash Tables (DHTs) called Kademlia, however this protocol has been enhanced by adding new message types ...
